The release of the latest iPhone handset brings with it the hefty price tag of around £1300 and for those keen early adopters, a likely long queue in the cold. It was only ten short years ago that the first iPhone came to market in January 2007 but in that time, the price has rocketed a whopping 94%! A market that has also shown growth over that period is UK property. It has however risen only by a comparatively measly 26%.
There have been dips in the price points on the Apple products as in the three years of 2008-10, the handsets were around £230 when new. Due to the worldwide market crash, the UK’s property prices were affected then too. Between the releases of the iPhone 3G in June 2008 and the 3GS in June 2009, the housing market dropped by 12.25%. June 2010 saw the iPhone 4 with the 4S in October 2011 during which period the housing market had a second dip of -2.34%.
The 7 and 7S models were announced in March 2016 and since then property has risen by 8% but with the latest price tag on the Apple X, the handset cost is rising at nearly double that rate at 14%.
The increasing costs of getting on the property ladder are regularly commented on. When new technology is leaping a price point too, it demonstrates the potential for difficulties keeping up with these fast-paced areas. Younger people may have to choose between peer pressure and saving for a deposit; not always an easy balance.
What will you do?